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Mar 31, 2023
WideOpenWest Q1 2023 Earnings Report
WideOpenWest's financial performance declined in Q1 2023, with a net loss reported despite HSD revenue growth.
Key Takeaways
WideOpenWest (WOW!) reported a decrease in total revenue and a net loss for Q1 2023. While HSD revenue increased, overall financial performance was negatively impacted by a decrease in subscription revenue and an increase in selling, general, and administrative expenses due to patent litigation settlement.
Total revenue decreased by 1% to $172.2 million compared to Q1 2022.
HSD revenue increased by 5% to $105.2 million compared to Q1 2022.
Net loss was $38.0 million for the quarter ended March 31, 2023.
Adjusted EBITDA decreased by 2% to $65.2 million compared to Q1 2022.
WideOpenWest
WideOpenWest
WideOpenWest Revenue by Segment
Forward Guidance
WOW! provided guidance for Q2 2023 and full year 2023, including revenue and Adjusted EBITDA estimates.
Positive Outlook
- HSD Revenue Q2 2023: $106.0 - $109.0 million
- Total Revenue Q2 2023: $173.0 - $176.0 million
- Adjusted EBITDA Q2 2023: $65.0 - $68.0 million
- HSD Revenue Full Year 2023: $437.0 - $441.0 million
- Total Revenue Full Year 2023: $703.0 - $707.0 million
Challenges Ahead
- HSD net additions Q2 2023: (4,000) - 0
- Adjusted EBITDA Full Year 2023: $286.0 - $290.0 million
- HSD net additions Full Year 2023: 6,000 - 10,000
- Unspecified risks associated with forward-looking statements.
- Potential impact of market conditions on financial performance.